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20121201
20121231
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CNBC 125
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CNBC
Dec 5, 2012 12:00am EST
>>> don't miss 60 minutes. the life of steve jobs. what a fabulous book. i suggest that you get it for the holidays. bull market somewhere. i'm jim cramer and i will see you tomorrow. >> thank you for coming. we're gonna make some history together today. [cheers and applause] >> when steve jobs handpicked walter isaacson to write his life story, he had already been diagnosed with cancer, but after 40 interviews, the biography provides a vivid picture of a complicated man. >> i think it's a tough book. >> it's a book that's fair. i mean, this is a real human being. >> you will hear tape recordings of jobs himself talking about being adopted, creating apple, and his regret over ignoring what could have been life-saving cancer surgery. >> you're born alone, you're gonna die alone, and what exactly is it that you have to lose? there's nothing. [ticking] it's so much more intimate than a laptop. >> when steve jobs unveiled the ipad, there was no way he could have predicted what it would mean to people with autism. it turns out it may be the perfect device to help unlock the isolation
CNBC
Dec 2, 2012 11:00pm EST
] >> that's what i'm talking about! >> whoo! >> steve wynn is the man with the midas touch who added glamour to the gambling industry. >> if you're gonna start a gambling joint, start a gambling joint. >> he transformed las vegas into an international tourist spot, but the odds haven't changed. >> the only way to win in a casino... >> is to own one. >> own one. >> unless you're very lucky. [stopwatch ticking] >> internet gaming is illegal in the united states and absolutely thriving. >> yes! >> right now, as you watch this story, 70,000 people are gambling on party poker, and that's just one site. >> there will be more online poker games per day at the end of this year than all of the casinos in the entire world put together. >> welcome to 60 minutes on cnbc. i'm steve kroft. by some estimates, gambling in this country is a nearly $100-billion industry. it attracts everyone from flamboyant businessmen to nefarious conmen. while the odds are heavily stacked against them, for millions of americans, gambling remains enormously popular, even in these hard economic times. in this episode, charlie
CNBC
Dec 6, 2012 3:00pm EST
are not just going to go over the fiscal cliff? we heard tim geithner on this program yesterday when steve asked him, look f you don't get what you want, do we go over the fiscal cliff? he said absolutely. >> he said he would do it! >> what happens when we wake up january nd, we go over the cliff, and the world doesn't end? >> that is so irresponsible. >> you have to be a long-term investor. long-term stocks have outperformed bonds. >> with all do respect, george, are you one of those come play september investors larry is referring to? >> i'd say we're opposite of that. we never take anything for granted, but we bet accordingac. bonds are trouble. a lot of people are going to lose a lot of money in bonds. you have to be prepared for that. interest rates are going to go up. dividends are going to continue to increase. the economy in this country is strong. it's going to get stronger. >> even at 44% dividend tax? >> it's not going to go that high. >> if we go over the fiscal cliff, it does go that high. it goes to 44%. >> no, no. don't think the worst. >> less than a month, it goes there. >
CNBC
Dec 3, 2012 7:00pm EST
democratic strategist-- okay. steve, i go to you because i read the white house reaction to this, and really all they talked about was raising the top tax rates. they had no other things to say, no commendations, no i want to work with you. steve, i know this stuff is not going to be perfect. there's going to be stuff in here that conservatives, supply siders myself won't like. but why does the white house have to obsess about higher tax rates to the exclusion of other parts like entitlement reform and spending cuts? why is this? >> larry, i don't think they are obsessed with higher tax rates they are obsessed with protecting the middle class. john boehner's proposal includes $800 billion in revenue but doesn't specific where it comes from. barack obama has been specific in his plan and look both sides have their plans and there's going to be negotiation, will probably end up somewhere in between. i don't understand why we can't raise tax rates on the top 1% of people if we're going to get to a balanced plan. why should the middle class pay more when we have people at the top who can pay mor
CNBC
Dec 12, 2012 12:00pm EST
. we've got our own fed insider steve liesman here. he is in washington, where he himself scaled the georgian columns of the fed building. he is here with a preview. steve, what can we expect from the final fed decision of 2012? >> as you know, brian, i run a spdr line from the monument. that's how we get up here. this is really a historic day, and i think the market really hasn't focused on it. the fed's balance sheet is really about to explode. you just gave the numbers. i want to do the math on the numbers really quickly. we're asking qe4 what today. the current purchases are $40 billion of mortgage backed securities. they're going to replace operation twist with $45 billion. add it up, that's a total of $85 billion a month. what happens when you annualize that? the existing level of the balance sheet is $2.8 trillion. the expected growth, 85 times the 12 right there. it's going to be up by a trillion by the end of the year if they maintain the pace. well, the level at the end of the year is going to be $3.8 trillion. compare that with the balance sheet before the crisis began
CNBC
Dec 14, 2012 1:00pm EST
for the slide today perhaps a note from ubs analyst steve malonovich cutting the estimates and the price target. let's go to bert that coombs at the breaking news desk. >> thank you, scott. we have an update now on that shooting at the sandy hook elementary school in newtown, connecticut. nbc news is reporting as many as 27 people may be dead from that shooting which broke out this morning shortly after 9:30. that's when police were called. as many as 17 to 18 of the victims are children. 7 to 8 adults including the gunman who authorities described to nbc news as a 20-year-old connecticut man who was dressed in black and was carrying two handguns. connecticut state police are set to begin a briefing at this hour. danbury officials and hospital officials tell nbc news that at least three people have been transported to the hospital. again, to as many as 27 people killed. we will bring you more details as they become available. back to you. >> thank you very much, bertha. we'll keep checking back with you and monitoring the situation. obviously an incredibly tragic situation still unfolding in ne
CNBC
Dec 3, 2012 12:00pm EST
emerge as the next steve jobs. he'll be right here on-set. back in two minutes. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. >>> it's time now for our traders to face off on one of the biggest stock stories of the day. shares of dell having its best day of the year after goldman sachs upgraded the stock two notches, all the way to buy from sell, giving a
CNBC
Dec 6, 2012 1:00pm EST
of steve jobs. we're going to take a very close look on what is next for america's favorite gadgetmaker. >>> speaking of gadgets, rivalry research in motion, offering training programs and promotions for its upcoming blackberry 10. it's targeted corporations. bold move or maybe a desperate one? >>> any move might be welcome down here. democrats want tax hikes on the rich. republicans want entitlement cuts. we've heard this before, haven't we? what do average americans want to see in a fiscal cliff solution. we've got the exclusive results of our exclusive cnbc all-america economic survey. >>> now to everybody's all-american, sue herera standing by at the nyse. >> you're sweet, ty. thanks. >>> we're a little bit on the downside. we really kind of retraced a little bit on the dow jones industrial average. previous to this we were solidly in the green in all three of the major market indices. the dow now down 14 1/2 points. nasdaq up eight. the s&p is down just a fraction. of course we are also watching apple on the back of yesterday's drop. the stock today is traded up $4.82. that's just
CNBC
Dec 7, 2012 1:00pm EST
that much impact on the labor market. november jobs numbers coming in much stronger than expected. steve leisman who's had a very busy week here to talk about the numbers and put it in context for us. >> hi, sue. no substantive sandy in the jobs numbers. the lack of sandy effect has us scratching our heads, what they said. i just got off the phone with the guy who's the head of doing the numbers, labor numbers at the bls. he walked me through the rather extensibilive process they did fine out if there was any sandy effect, including sampling of businesses in a flood tide areas. >> it was very meticulous. >> i'm pretty convinced they did a good job figuring out if there was an effect and there is no effect which brings us to the numbers which you could believe on face value as much as you can. they'll revise this again. they only come forward with 60% to 70% of the sample. unemployment rate falling 7.7% because largely a drop in the labor force. average hourly earnings up 0.2%. despite positive headlines, xwoeld man sax says we interpret this report as one only slightly better than expect
CNBC
Dec 12, 2012 3:00pm EST
, not looking at 6.5% threshold but the broader conditions, a big debate, steve liesman's nemesis talks a lot about people being beamed to mars in. your mind what is happening to the job market? are we creating jobs? is that why it's coming down, or is it because people -- the degree of discouraged workers? what's your sense of how quickly it's fallen because of new employment? >> so on the first question the chain cpi versus the fixed weight cpi is a technical issue. the change cpi is better for most economists because it allows for changes in the mix of goods and services that people actually consume more effectively. however, whether that's more appropriate for say social security indexing or not, i think that's ultimately a political decision. i suppose the rejoinder would be that neither the cpi nor the change cpi may be particularly a good measure for the cost of living of social security recipients, so those are the kinds of questions that congress is going to have to deal with. second part of your question was -- >> what actually is happening to the debate over the extent to which une
CNBC
Dec 3, 2012 6:00am EST
first. guest host david walker of comeback america initiative and democratic strategist steve mcmahon both here to help us find solutions. >> then, what goldman's jim o'neill is so he seeing to help you prepare for your investments straight ahead. plus, adding opportunities door to door. >> have a good day. >> thank you. >>> domino's pizza ceo patrick doyle is here. the second hour of "squawk box" begins right now. >> good morning, everybody. welcome back to "squawk box" here on cnbc. i'm becky quick along with joe kernen. andrew is out this week. we've been watching futures this morning and they are indicated slightly higher. dow futures are up about 35 points above fair value, s&p futures and the fass dak futures are higher, as well. in your morning headlines today, the fiscal cliff dominating the sunday talk show circuit. treasury secretary tim geithner expressing on meet the press that republicans will accept the president's plan to raise income taxes. >> what we're trying to do is make it more likely we come together on a good agreement for the american people that extends t
CNBC
Dec 5, 2012 12:00pm EST
. >> steve wise, what do you do with apple? at least it's bounced a bit off that intraday. people throwing around the death cross as well, so everybody seemingly has a reason for why the stock is in trouble today. >> it's so much fun to argue and disagree with him, but i don't think that has much -- i think everybody is -- a lot of people are getting worried that have been in the stock for a long time about the taxes next year, the headlines, sell, sell, sell, old newspapers, business daily, so taking profits. simple. >> joe terranova was sitting right where you are yesterday, that he had trimmed the timing certainly seems to be -- >> there's no rush to buy, is the bottom line. >> the technicals don't look that good, absolutely that's the case, but in addition to that, the stock has missed earns two straight quarters. you need to see apple perform in the coming quarter. >> you buy it here? >> i think a lot of this stuff gets important, but the chatter about the firm today, how much apple could be sitting number one. what we're doing here is taking price and trying to retrofit it with funda
CNBC
Dec 18, 2012 12:00pm EST
. let's talk to our friend steve grasso. how are you trading hpq today? >> i've been long the name. i sold it yesterday based on that dell headline gaining in server revenue and taking out a little bit of the hpq momentum. i'm looking to reenter the trade but i'm waiting on technicals. >> why do you like hpq so much? >> first of all, it's a technical story. second of all, they are trying to make a lot of cloud in the head space. and i think they will. you have to believe in meg. if you don't believe in meg, you shouldn't be long this name. >> and you wleef in her? >> i do. i believe they are going to start their r & d to '02. i think you're going to see a lot of 3-d printing headlines. they did have an agreement with another 3-d printer company but i think you're going to see them do it on their own and that's why they backed off. it was more of a distribution deal that they had with the over company. >> the washout that we had just after earnings, judge, when the stock traded down to 1150-ish. again, these are small dollarwise moves that is enormous and just when you would not think
CNBC
Dec 5, 2012 1:00pm EST
will speak later to steve leisman about the fiscal cliff talks. we'll have a preview and discuss what traders want to hear. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ >>> goldman sachs earlier today cutting its outlook for gold and prices are closing right now. we have about a $2 loss in the gold market. sharon epperson is track being the action down at the nymex. sharon? >> gold prices are finishing the day basically flat here, s
CNBC
Dec 5, 2012 4:00pm EST
26 days away from the fiscal cliff. steve liesman joins us now live from the treasury. he has an exclusive interview with one of the key negotiators at the white house, secretary of treasury timothy geithner. >> maria, thank you. i'm here with the secretary of treasury at a crucial time. thank you for joining us. >> thank you. >> speaker boehner has put forward a proposal which "usa today" says demonstrates more political courage the democrats have shown. the white house is saying today it's not even wor ty -- worthy of a response. what are we missing? >> i think we are making progress. they acknowledged they were prepapered to do $800 billion in higher taxes on part of the american economy. that's part of the balanced framework. that's definitely progress. what we need to see is have them acknowledge the rates go up. if they're willing to accept that and commit to that, then we think we could do something good for the economy. we can make the government use the taxpayers' money more efficiently, lock in some spending savings and do some long-term entitlement reforms to make s
CNBC
Dec 6, 2012 12:00pm EST
? the reports author joins us live, steve milanovic from ubs, great to see you again. >> thanks for having me. >> it was a couple of days ago you put out a note and i know you like apple and still call it a buy but you issue what is fair to say may be a reality check for what's going on, you cite margins having peaked, multiple expansion being over and needing a new category creation to succeed. >> well i think you've got a real conflict for the stock which is why it may very well be in the trading range for a while. on the one hand the valuation is cheap and you talked about the nifty 50 back in the 1970s. i doubt many of the stocks were ten times with a 30% return on capitol like apple. on the other hand you have revenue growth slowing, margins may be hitting the secular peak. tech investors don't like that. you're not likely to get much pe expansion from here, that doesn't mean the stock can't go up due to earnings growth. we continue to be bullish. >> you'll hear on "rock center" tonight with brian williams tim cook will say something about television where he calls it a tv is an area of
CNBC
Dec 17, 2012 12:00pm EST
good arguments that bear listening to. >> yeah, great stuff, steve. safe travels home. >> thanks, carl. >> steve liesman. that does it for us here. let's get to headquarters, wopner and the fast money "halftime." >> welcome to the "halftime report." four hours to go until the close. take a look at green arrows across the board. the dow getting a bit of a lift in the last 15 minutes on word that the president and the speaker are meeting on the fiscal cliff at the white house, right now. here's what we're also following on "halftime." guarding your money. what's the best way to protect yourself from the fiscal cliff? vanguard ceo will tell you in a "halftime" exclusive. debate it, caterpillar has underperformed the market this year but with china looking up is the stock set for a surge? the "halftime" rumble is ahead. first our top story, biting into apple. citi downgrades the stock less than one month after calling it a buy. what does the firm's team of analysts see now? where will the stock head for header? traders are stephanie link, joe terranova, steve weiss and josh brown. you surp
CNBC
Dec 20, 2012 5:00pm EST
's check out where the traders stand before we hit tomorrow's session. so, steve, buyer or seller today? >> i think you have to lighten up on a lot of the positions you've had some profitts in. it's really prudent to start peeling off the winners, because we're still waiting on fiscal cliff, as everyone knows. i think the market is poised to sell the news event here. i don't know if we're going to have a news event to sell. >> right. just because you sell those winners doesn't mean that you can't still be in the trade, correct karen? a lot of people are receiving but re-entering the trade. >> this is a strategy you normally never do, realize, especially with long-term deals, realize those now in 2012 and buy them right back, you might think wash sale might pop into your head but -- >> you have to wait 30 days? >> doesn't aplay to gains, only to losses. you can sell, buy them back right away, get a better tax rate in 2012. i'm sure you're fascinated. my husband loves that kind of thing. >> well, it's very handy especially in a climate where we are looking at higher taxes. >> you blame th
CNBC
Dec 21, 2012 12:00pm EST
right. steve, thanks for stopping by. we appreciate it. >> merry christmas. >> merry christmas to you. and we sit here with the s&p 500 at 1425.5 down by 1.25 off session lows but this is going to be an interesting one to watch as we head into the session because we had those remarks from speaker boehner earlier and now we're taking a little leg lower. >> and shortened session on monday as well. >> that's it for "squawk on the street." let's hand it over to headquarters and the fast half. >> guys, thanks very much. welcome to the halftime show. four hours to go until the close. here's where we stand on wall street. off the lows of the day by not by that much though. the dow is still down almost 160. the s&p and nasdaq are selling off at this hour. here is what we're following on halftime. stock in motion. rim shares sink as the company surprises the street. what's next for the beaten up blackberry maker? the najarian brothers debate it. saving face. invest og bill gurley on facebook's comeback streak and the one social media stock to watch in 2013. but first our top story, cliff divin
CNBC
Dec 12, 2012 6:00am EST
of investing. carlisle's david rubenstein, steve shoresman blackstone, venture capital's marc andreesson, and jamie dimon. look at that -- >> in addition we have jerry webb. make us all -- the rest of us feel -- >> we have one -- >> you're an economist or something? you play on to have -- you can think about the 12-12-12 thing in the meantime because you're good at math. >> yeah. all that stuff. >> all right. >>> as we move closer to the edge of the fiscal cliff, every move is being magnified by the markets. president obama and house speaker john boehner spoke by phone on tuesday, exchanging new proposals. the president gave boehner a revised offer on monday, reducing his demand for new tax revenue from $1.6 trillion to $1.4 trillion over ten years. boehner responded with a plan that largely sticks to his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal. that hasn't been done before. in an exclusive interview with barbara walters of abc news, president obama says he still expects a deal before t
CNBC
Nov 30, 2012 7:00pm EST
presidential candidate howard dean, steve moore of the "wall street journal" editorial board, author of "return to prosperity." steve, i begin with you. we have from the "wall street journal" editorial page costco's dividend ta dividend as tax epiphany. taxes matter, steve. even though there are a lot of people in this world who think not. >> they matter a whole hell of a lot. it was very predictable these companies would be starting to pay deluges of dividends now. if you pay them now your shareholders only pay 15%. if you wait six weeks they have to pay as high as 40, 42, 45% depending on where that rate ends up. so taxes do matter. it's affecting behavior. let me sayhist my good friend howard dinos this, laimplarry. when he was a governor he cut taxes not raised them to make his state more productive. you should be advising this president not to raise those rates. >> steve i was hoping to get some help from you. you know very well, one of the things we can both agree on the deficit is out of control. >> that's for sure. >> you know as well as i do that the best deal for deficit hawks, leavin
CNBC
Dec 12, 2012 4:00pm EST
the impact. >> lower bang for your qe buck as steve liesman put it earlier on. >> thanks for joining us. always good to see you, eyore pento. >> putting fire into the conversation. >> thank you. >>> so much for the holiday cheer. with the rate things are going in washington, there will be plenty of holiday jeer between now and the new year. >> the president's called for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >>> well, two former presidential candidates face off after the break. i feel like i'm going back to 2008 or 2004. steve forbes says no tax hikes for anybody while howard dean argues everybody needs to pay a little more in taxes and not just the upper income. both sides of that coming up here. >> and also just ahead, the ceo of a tech company says he may be forced to cut jobs because of washington's fiscal follies. he's going to be here. he's going to explain how bad it will be, not just for him, but for other companies as well. >> and then later a retail boom on main street and wall street. with just two weeks to go until christmas, we'll tell you
CNBC
Dec 13, 2012 3:00pm EST
into the new year. today's "closing bell" exchange, gary webbush here with us and steve sax from pro shares advisors and steven gil garcetg and our own jeff cox. no encouraging words out of washington, here we go again, from either the fed or congress. >> right, and frankly that's very expected. there's going to be a -- some grandstanding about your political philosophies right up until the end, but the way i view this is we will not and cannot go over the fiscal cliff. >> you think the can will be kicked down the road. >> well, i think washington learned its lessons from the credit crisis. they are not going to have this go over the cliff, and i think it's going to be a recipe of a small part of cutting spending. a small part of raising taxes and a healthy doze of kicking the gan down the road. >> you would be so sure that these guys cannot do it when in fact here we are 18 days away. steve sax from your standpoint in, terms of etfs and in terms of indexing out there, how do you want to invest given all of these uncertainties as we approach year end? >> i'm in the camp i certainly hope we
CNBC
Dec 14, 2012 12:00pm EST
, you were talking about some momentum on the upside. we got steve coming in, decreasing his price. analysts aren't hanging out at a thousand, 900 dollars. i think you see a lot more companies downgrading themselves based on price. there could be a lot more down side momentum than upside. >> the top rated i.t. analyst on the street joins us now live. steve welcome back to halftime. >> thanks for having me. >> your note is certainly the talk of the street today. and a lot of people are focusing on it for the reason why apple is almost back at those november lows. why have you taken down the numbers? why have you cut the price target? >> well, we do cut our price target from 780 to 700 and we've taken our earnings estimates down. and the reason is that my colleagues in asia are getting a sense that the production for the iphone in particular is coming down again. i think the street has understood that production would probably be down about 20% in the march versus the december quarter. that is not terribly atypical but we are now sensing it may be down as much as 40%. we're not quite
CNBC
Dec 5, 2012 4:00am EST
statement to parliament today. will be out in westminster soon. steve is out to give us more detailed analysis of what to expect. let's just go back to the eurozone. as you say, thin advances here. are we capping -- it's up against the yen as well. there's obviously been a big yen story. >> yeah, i think the euro/yen has had perhaps more to do with eu euro/dollar than anything else. the euro crosses in general have been story rather than euro/dollar and euro/yen at the forefront. i think the euro/yen forecast is overplayed in what japan will ultimately deliver on. but mum is pretty good. i think you still play for a little yen weakness. i think we'll see a lot of people trying to buy yen back because i don't think we'll get delivery in all these preelection promises. >> do we all think we know what the chancellor is going to say? >> judging by the many pages being given to it in the newspapers, you feel like what else can he say? it's not going to be a day where you'll buy sterling aggressively because most of the news is going to be bad. we're going to have lower growth. potentially
CNBC
Dec 18, 2012 9:00am EST
in stocks. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. >>> the opening bell on a tuesday morning. have a look at the s&p at the top of your screen. over at the nasdaq, northwest biotherapeutics on immunotherapy products. lots to watch today. i think we're getting comments slowly out of speaker boehner, which we'll get to in a moment. >> look, a little bit. still some activity before the official end of all activity whatsoever as we head into the christmas holiday. so arbitron up sharply. some people thought they were one company, but they are not. neilsen is a company that has large private equity owners at this time as well making that about $1.2 billion transaction. >> neilsen sha
CNBC
Dec 4, 2012 3:00pm EST
forever. joining us now, steve liesman and an economist from ftm financial. steve, is it really as bad as all of that? we're talking about some very anemic numbers. >> the question is, what part is bad? i really disagree with this report in the sense that i don't see how he can possibly know what the growth rate is going to be in 2050. i don't think he knows what the growth rate is going to be next year let alone in 2050. the second thing wrong with this prediction is growth rates are something that are within control of a society or nation. with the policies -- now, i think he's right we're aiming right now for a growth rate that may be unattainable. long-term, a society cannot exactly choose but can adjust this level of growth. third, some of the things that he's most concerned about, for example, global competition, are some of the things that make me optimistic about the future, not pessimistic. >> but lindsay, part of his reasoning is we're adding too much debt to the equation. debt servicing takes up more of our growth at this point. too many band-aids solving problems that need
CNBC
Dec 5, 2012 5:00pm EST
. we appreciate it. we should know tomorrow on halftime, steve milunovich on halftime. investor sentiment around apple, do you see them clinging to hope still? >> yeah. i think it's the case that gee makes. they hate to see a stock like amazon go higher. he's talking about fundamentals. when you bring the two, they still love apple and they still hate amazon. >> next on "fast" is secretary timothy geithner pushing us closer to the cliff's edge or moving us farther from it? find out in the cnbc exclusive. two stocks. which one is a better deal. our traders will make the call. we'll be right back. [ abdul-rashid ] i've been working since i was about 16. you know, one job or the other. the moment i could access the retirement plan, i just became firm about it -- "i'm done. i'm out of here." you know, it's like it just hits you fast. you know, you start thinking about what's really important here. ♪ ♪ ♪ when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper know
CNBC
Dec 12, 2012 1:00pm EST
. and our steve leesman is one of the lucky few who gets a question and he joins us now from washington. this is really something that not a lot of people expected, steve. >> i think that's right, tyler. and it is absolutely historic. fed for the first time putting economic targets around its funds rate projections and first of all, the other news was that it did end -- it said it would end to replace that so that brings the monthly purchases of long-term assets to $85 billion. i want to show you some math. the current level of the math call it 2.8 trillion. add a trillion to that, you will be at 3.8 trillion if we do go at this pace for a full year here. the precrisis level is $800 billion. i want it put it another way, tyler. increase the balance sheet from '09 to '12 by a trillion dollars. we will do that in one year. aggressive policy from the fed. unaggressive as tyler mentioned the idea of using economic targets for funds rate. we know they were talking about it. we know there was support. we didn't think the federal reserve had unanimity enough to do this. only jeff lacker from r
CNBC
Dec 13, 2012 12:00pm EST
nagarian. i am "fast money." >> i'm stephanie. i am "fast money." >> i am steve grasso. i am "fast money." ss? at fidelity, we do it by merging two tools into one, combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> time now for a "market flash." let's go to the desk. the schact is watching something. four times its average daily volume. of course, reports in "the minneapolis star tribune" that richard sculze, founder, mi
CNBC
Dec 6, 2012 6:00am EST
conversation with our steve liesman. in corporate news, the apple coming off its worst day ofs losses this almost four years. u.s. equity futures, though, not too bad so far today. indicated up about 15 points. today is thursday, december 6th, penultimate day before the day of infamy. "squawk box" begins right now. >> welcome to "squawk box." i'm becky quick along with joe kernen. andrew ross sorkin is on vacation this week. onset with us is drew mattis. welcome. thanks for getting up early. >> i'm always up at this time. >> we'll be going through secretary geithner's comments, but first let's get you up to speed on other stories. joe was talking about apple. it has been a rough ten weeks for the most valuable u.s. company. shares tumbling more than 6% yesterday shedding $35 billion of market value. among the reasons cited by analysts, a forecast by an influential research firm suggesting that the iphone and ipad maker is continuing to give up ground it rival the android gadgets. there were also unconfirmed reports that at least one major stock clearing house was raising margin
CNBC
Dec 13, 2012 6:00am EST
. >> steve galio was there. >> yeah. it was a pretty interesting day. but i think his comments moved some people, too. >> did we broadcast ray dalion? >> i don't know if we broadcast him live. we should grab some clips and play them on squawk. >> dino, did you have something? >> i think you're on track in terms of the economy. the economy is weak. >> should i be wishing things just bottomed on their own so that we could start policing -- >> i mean, you know, what will be great would be a surge in productivity. you know, a surge of demands externally. >> i can't get here any earlier. we're here at 3:30 in the morning. >> you know, can this economy be more productive? >> go to bed at 8:00. >> can that happen? can we get a surge of external demand? and those things are unlikely or can't be predicted. >> andrew got in earlier today than ever. >> i did. i was coming from the concert last night. no, i wasn't. let's check out the situation in crude today. 86. we're used to that now, too. it's like, okay, 86 is fine. the ten-year, and this, when we used to go and see greenspan down in washington,
CNBC
Dec 17, 2012 1:00pm EST
about the outlook for economy and housing. steve liesman sat down with jeffrey this morning to get his take on the state of the economy and where it might be headed in 2013. joined by steve with fascinating highlight from that. >> thank you, sue. subdued inflation of 1.8%. was he important part lacquer's estimate it would take get to 6.5% o unemployment. you remember, lacquer desentd -- excuse me, what was that? dehe is noted from the meeting. explained this descent. >> it should be clear that this committee is straining. to provide as much stimulus as possible without endangering our price stability. my worry and the reason i descented on this and asset purchases, is that we seem to be test the very limits of that credibility. >> he would prefer -- he upported the dropping of the calendar date but wanted unemployment and labor market to e described in much mor terms rather than quantitative terms. he also suggested that the to be not e needs just for the short term but long-term. charlotte the launchon commerce where we are here, he said cannot assumer spending on the 6% year on ye
CNBC
Dec 19, 2012 6:00am EST
steve israel, congressman from new york. plus, we'll also be talking more about what's at stake in washington and how the fiscal cliff is likely to effect investment decisions. we have value investor leon cooperman, he's going to join us on set starting at 7:00 eastern time. then at 8:00 eastern, we have black op co-founder and ceo ralph schlosstein. and lynn hutchins will join us. we'll talk about what they see playing out and what they think is working when it comes to the markets now. >> the bill that the president says is in the house that he will sign if -- that's in the senate -- >> the senate. >> the senate that he will sign if the house passes it is what? >> that is $. >> -- that is 250? >> 250? >> he said 400. he said, i have the pen, let's keep tax rates where they are for everyone at 250 and below. so this one, that's c these guys are pretty clever because that would keep rates where they are for everyone at a million and below. no middle-class taxpayers up to a million dollars -- >> that's no matter what, isn't it, in either bill? >>yon r -- i think it would be the s
CNBC
Nov 30, 2012 11:00pm EST
'll do more work and come back. let's go to steve in new york please steve >> caller: greetings jim from the beautiful finger lakes of central new york. >> i love the finger lakes. what's going on? >> caller: two-part question for liberty brands. it looks like the revenue numbers are finally catching up with the same store sale numbers as evidenced this past month. the stock has been in a trading range 45 to 49 for several months. today it closed at 52.15. is this the breakout we've been waiting for? >> i'm going to say yes. no one had a good month in november except for amazon and euro play and limited. if you have have a good month of november when a lot of businesses were shut down because of sandy, who knows what could happen during the closer we get holiday season period like right now. limiteds for me for you. what the heck was up with office max? i thought it would be left for dead but it's coming back to life. the company has some things going for it. if you're looking to get in, you'll see some senator or congressman say -- >> coming up send cramer an e-mail to mad money.com. or
CNBC
Dec 27, 2012 5:00pm EST
to be positioned slightly long like steve's suggesting is probably the best position for a short-term -- >> what does that mean at the end of the day? people are wondering what slightly long is and what long correlation -- >> when i say we're low correlated to the market, the beta of the overall market is one, or 1.0. sky bridge is a 0.2. so, if the market goes up 100 points, we'll move 20 points. if market goes down 100 points, we'll move down 20 points. >> what does that portfolio look like? people want to be low correlated. >> it's heavy fixed income, heavy mortgage-backed securities, could be whole loan credit. it could be agency, nonagency paper. it could be some treasuries. it's a whole e leg tick mix of things. and believe it or not, it could be greek bonds, even. those are examples, not necessarily what we have in our specific portfolio. >> let's get back to d.c. the house of representatives set to reconvene on sunday in another attempt to agree on a fiscal cliff deal. amon j eamon jav everyoers has the sto. >> i'm keeping an eye on my iphone here, i just got an e-mail from a source that
CNBC
Dec 7, 2012 6:00am EST
'm becky quick along with joe kernen and steve liesman. the november jobs report is now just about 150 minutes away. count do countdown is on. the economy probably added about 80,000 jobs last month. reuters consensus is a little higher at 93,000. the unemployment rate expected to hold steady at 7.9% and economists say the slow down in nonfarm payrolls will reflect the effect of sandy. joining us this hour is bank of america merrill lynch global research senior research economist michelle mire and we'll talk through everything that's been happening through jobs and what to expect. but first, there is a developing story. an earthquake off the northeast coast of japan triggered a tsunami warning. the warning has been lifted, but it was a 7.3 quake. so far no reports of any injuries or damage. it was for the same area devastated by an earthquake and tsunami back in march of last year. we will continue to bring you any developments. in the meantime, steve has some of the morning's top other stories. >> let's start with the markets. asian stocks rallying to 2012 highs overnight. the nikkei
CNBC
Dec 7, 2012 4:00am EST
to tim cook about continuing the legacy of steve jobs. plus chinese insurer picc put some spark back into the dismal, the big potential in the insurance. plenty more to come. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> we continue to monitor reaction to the earthquake and tsunami wave in japan right now. miyagi northern prefecture region. and we got a clarification from one of the plants. tokyo whether he can power saying workers instead of evacuating completely, the plant saying they have now reached a position inside the plant, they didn't evacuate. so they just made sure the workers have gone into a safe position. we'll keep monitoring events and any reports we get out. meanwhile, with germany's dax closing near five year highs, is it time for a rerating of european equities? highest close since january 2008. up 28% for the year, giles. and here we are with the bundesban
CNBC
Dec 17, 2012 9:00am EST
is just amazing. steve liesman's exclusive with lacquer. one more look at futures this morning. we'll cover what 10% on squawk earlier today. and a lot more when "squawk on the street" comes right back. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... who helped make slea difference last yearose for thousands of california foster kids. thank you for helping foster kids. thank you for the school supplies. thank you for the new shoes. thank you, secret santa. and thank you for donating money. your generosity proves that while not everyone can be a foster parent, anyone can help a foster child. - thank you. - thank you. gracia
CNBC
Dec 12, 2012 4:00am EST
. >> steve sedgwick has the latest and joins us now. hi, steve. >> i like that shuffle, steve. that was good. >> reporter: i've got a treat for you. guys, kelly, ross, i've got a treat. the nigerian oil minister has asked me kindly to join -- you are absolutely freezing. thank you very much for joining us. i know you've got a very important meeting coming up. how do you feel about world oil supplies at the moment? >> well, i think right now we're holding fairly stable. we're of course concerned that there will be a certain level of overproduction over the next 18 months or so if the production continues. >> reporter: saudi arabia need to take oil off the table cd iraq? >> i think those are issues we'll discuss today. >> reporter: what is the most contentious issue? we have been saying the most contentious issue could surround saudi arabia and iran. some estimates of over one million barrels a day. >> again, i would not preempt this meeting and outcome by giving statistics at this point. i think it's critical that we go in and have discussions amongst ourselves and come to the sort of prudent
CNBC
Dec 7, 2012 9:00am EST
. speaking of which, i'm glad you brought that up. our steve liesman interviewed the treasury secretary a couple of days ago and had a question for him. i wonder if you would listen to this piece of tape and get a reaction on the other side. >> i want to understand the administration's position when it comes to raising taxes on the wealthy. those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. it's only 2%. >> dr. krueger, as the man who is maybe more than anyone the steward of the economy itself, are you okay with that? >> absolutely. the president made clear during the election that he wants a balanced approach, that we can't afford the tax cuts for the most fortunate among us. that the way to provide opportunity and build the middle class in this country is to get on a fiscally sustainable path and to ask wealthiest to pay a little bit more. president couldn't have bee
CNBC
Dec 11, 2012 6:00am EST
're going to hear tomorrow, in the next hour, when steve liesman will join us with results of our fed survey. >>> an oh beck minister, important events. opec ministers are in vienna. >> why vienna, by the way? >> i don't know why they originally set it there, but it seems like as good a place as any. have you been? >> i have not been. >> i don't think i've ever been to vienna. i always wondered about that. >> i mean, it's better than meeting in, i don't know, skokie, right? they're expected to retain its 28 million barrel a day output target. but the real drama is likely to be about leadership, the world's leading oil exporters are expected to argue about who should be opec's next secretary general and we have candidates from iran, iraq and saudi ara a arabia. they're all competing to replace the current leader, as you can see there. abdallah salem el badri, he's 72 years old and he's been there for years. i don't know where i've been for five years, but did you know -- >> i apologize in advance. i didn't. >> you could have said you did and we've been best friends, in fact. >> he's complete
CNBC
Dec 20, 2012 6:00am EST
:00 eastern, aman whose name is synonymous with the flat tax. steve forbes will be our taxmaker of the hour. it's a new day. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where a
CNBC
Dec 3, 2012 3:00pm EST
. carter worth, fundamental, steve cortez, always nice to see you. carter, check it out. tell me about the charts and the technicals. what do the charts tell you, gm versus ford. >> the first chart is a comparative chart, just that, gm versus ford. very clear optically, 75% correlation. the truth is, we like them both. they're both bottoming out, if you will. they're both heretofore weak stocks improving. each has acted very well while the market was selling off in the september-october period. gm, well-defined downtrend. the stock moves above the down trend, breaks above that, if you will, and the pattern is the same for ford. same downtrend over the past year and a half. same move above the downtrend. again, each moving up in september and october. when the market was getting clobbered. very important. >> carter -- >> you like the technicals. steve, jump in. what about the fundamentals. >> i actually shorted gm this morning. both have had a great few weeks, couple of months but it's important to bring perspective. if you look at a long-term chart of ford, you see this stock is tradin
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